Foreign Exchange Management (Export and Import of Currency) (Second Amendment) Regulations, 2014 - 331/2014-RB - Foreign Exchange Management

RESERVE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI Notification No. FEMA. 331/2014-RB December 16, 2014 Foreign Exchange Management (Export and Import of Currency) (Second Amendment) Regulations, 2014 In exercise of the powers conferred by clause (g) of sub-section (3) of Section 6 and sub section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Export and Import of Currency) Regulations, 2000 ( Notification No. FEMA 6/2000-RB dated May 3, 2000 ), namely:- 1. Short title and commencement (a) These Regulations may be called the Foreign Exchange Management (Export and Import of Currency) (Second Amendment) Regulations, 2014. (b) They shall come into effect from the date of their publication in the Official Gazette. 2. Amendment of the Regulations: In the Foreign Exchange Management (Export and Import of Currency) Regulations, 2000 ( Notification No.FEMA.6/2000-RB dated May 3, 2000 ), in Regulation 8 , for the existing sub- regulation (1), the following shall be substituted, namely: take or send out of India to Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes (other than notes of denominations of above ₹ 100/- in either case); provided that an individual travelling from India to Nepal or Bhutan can carry Reserve Bank of India currency notes of denomination ₹ 500/- and/or ₹ 1000/- up to a limit of ₹ 25000/- . (B P Kanungo) Principal Chief General Manager Foot Note: The Principal Regulations were published in the Official Gazette vide No. G.S.R. No.389 (E) dated May 5, 2000 in Part II, Section 3, Sub-Section (i) and subsequently amended vide: (a) G.S.R.201 (E) dated March 21, 2001 (b) G.S.R.548 (E) dated July 24, 2009 (c) G.S.R.480 (E) dated July 12, 2013 (d) G.S.R.399 (E) dated June 12, 2014